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WILMINGTON, DE, UNITED STATES, November 28, 2024 /EINPresswire / -- Growing consumer demand for convenient and longer-lasting seafood products is driving the frozen fish
market growth. The perception that frozen fish retains its nutritional value and freshness makes it an attractive choice for health-conscious consumers. Improved logistics and
transportation networks have made it easier to
import and export frozen fish products across the globe. This has expanded the variety of fish species available and increased market opportunities, contributing to the frozen fish market growth in the upcoming years.
The global frozen fish market size was valued at $26.9 billion in 2022, and is estimated to reach $54.5 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
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Frozen fish refers to fish that has been subjected to a freezing process to preserve it for later consumption. This process involves lowering the temperature of the fish to well below its freezing point, typically to around -18 degrees Celsius (0 degrees Fahrenheit) or lower, and storing it at this temperature. The freezing process helps to inhibit the growth of microorganisms and enzymes that can cause the fish to spoil, making it a convenient way to extend the shelf life of seafood.
The development of more efficient and reliable transportation and logistics systems has been a primary factor driving the market growth. The development of containerization and advancements in refrigerated shipping containers have made it possible to transport frozen fish over long distances while maintaining product quality. This has significantly reduced transportation costs and risks associated with seafood exports. Moreover, advances in freezing and preservation technologies have extended the shelf life of frozen fish, maintaining its quality and safety during transit. Blast freezing, vacuum packaging, and other innovations have helped to ensure that seafood products reach consumers in good condition.
The increasing demand for seafood, particularly in regions where it was traditionally less consumed, has driven the globalization of the seafood supply. Consumers in various parts of the world are looking for diverse and convenient sources of protein, and frozen fish offers a viable option. Furthermore, the globalization of the frozen fish market forecast is driven by a combination of factors, with improved logistics and transportation playing a pivotal role.
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The environmental concerns, especially related to overfishing and unsustainable fishing practices, can indeed pose significant restraints for the frozen fish market growth. Governments and international bodies impose strict regulations on fishing operations to protect fish stocks and marine ecosystems. These regulations can include catch limits, seasonal closures, and restricted areas for fishing. Compliance with these regulations can lead to increased operational costs and reduced fishing opportunities.
Overfishing and unsustainable practices can lead to the decline or depletion of certain fish species. Therefore, these species may become scarce or endangered, leading to a reduction in their availability for the frozen fish market. This can affect both supply and variety in the market. Sudden closures or restrictions on fishing in specific regions can disrupt the supply chain and lead to price fluctuations in the frozen fish market analysis. Meeting these certification requirements can be costly and challenging for some businesses in the frozen fish industry.
The innovations in food processing techniques enable the creation of a wide range of value-added products, such as pre-marinated or seasoned fillets, fish-based ready meals, seafood mixes, and others. This diversification can attract a broader customer base, catering to various tastes and preferences. Busy lifestyles have led to an increasing demand for convenient, ready-to-cook or ready-to-eat meals. Value-added frozen fish products, like fish fillets with seasonings or complete seafood-based meals, offer consumers an easy and quick meal solution without compromising on quality. Consumers are becoming more health-conscious, and fish is often considered as a healthy protein source.
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The key players profiled in the frozen fish market size report include Brig-Star LLC, Chicken Of the Sea, Dongwon Enterprise Company, High Liner Foods, Marine Harvest, Nippon Suisan Kaisha aka Nissui, Pescanova SA, SalMar ASA, Zoneco Group, and Tassal Group.
The report offers a comprehensive analysis of the global frozen fish market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
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